HomeMy WebLinkAboutCRA-R-14-0030 Legislation (2)City of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 13-01215 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
AUTHORIZING ISSUANCE OF A GRANT, IN AN AMOUNT NOT TO EXCEED
$850,000, TO J.E.J. PROPERTIES, INC. TO UNDERWRITE COSTS ASSOCIATED
WITH THE RENOVATION AND REHABILITATION OF THE DUNN AND JOSEPHINE
HOTEL, 1028 NW 3RD AVENUE, MIAMI, FLORIDA (FOLIO NO. 01-0101-040-1020);
AUTHORIZING THE EXECUTIVE DIRECTOR TO DISBURSE FUNDS, AT HIS
DISCRETION, ON A REIMBURSEMENT BASIS OR DIRECTLY TO VENDORS,
UPON PRESENTATION OF INVOICES AND SATISFACTORY DOCUMENTATION;
FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL
DOCUMENTS NECESSARY FOR SAID PURPOSE; FURTHER AUTHORIZING THE
EXECUTIVE DIRECTOR TO APPROVE BUDGET MODIFICATIONS UNDER THE
GRANT, PROVIDED THAT THE OVERALL AMOUNT OF GRANT FUNDING
APPROVED BY THE BOARD OF COMMISSIONERS IS NOT INCREASED;
ALLOCATING FUNDS FROM SEOPW TAX INCREMENT FUND ENTITLED,
"OTHER GRANTS AND AIDS," ACCOUNT CODE NO.
10050.920101.883000.0000.00000.
WHEREAS, the Southeast OvertownlPark West Community Redevelopment Agency ("CRA") is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with the 2009 Southeast Overtown/Park West Redevelopment Plan (the "Plan");
and
WHEREAS, Section 2, Goal 1, at page 11, of the Plan lists the "preserv[ationj of historic
buildings and community heritage" as a stated redevelopment goals; and
WHEREAS, Principle 8, at page 15, of the Plan provides for the restoration of older buildings
that embody the area's cultural past; and
WHEREAS, Section I, subsection 6, at page 93 of the Plan, encourages the promotion of the
area as a tourist destination by increasing the number of commercial and cultural attractions,
restaurant and hotel accommodations, and historical sites; and
WHEREAS, the Dunn and Josephine Hotel, 1028 NW 3rd Avenue, Miami, Florida ("Property"),
consists of two buildings built in 1938 and 1947, respectively; and
WHEREAS, the Property is owned by J.E.J. Properties, Inc. ("J.E.J."), who has requested
assistance in renovating the Property to operate as a "bed and breakfast" establishment; and
WHEREAS, in exchange for the grant, J.E.J. has agreed to record a restrictive covenant
providing for the reimbursement of the grant in the event the Property is sold, transferred, or otherwise
conveyed to a third party during a 10-year period; and
City of Miami Page 1 of 2 File Id: 13-01215 (Version: I) Printed On: 3/21/2014
File Number: 13-01215
WHEREAS, the Board of Commissioners wishes to authorize the issuance of a grant, in an
amount not to exceed $850,000, to J.E.J. Properties, Inc. to underwrite costs associated with
renovation and rehabilitation of the Property; and
WHEREAS, the Board of Commissioners finds that this Resolution furthers the CRA's
redevelopment goals and objectives set forth in the Plan;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Board of Commissioners hereby authorizes the issuance of a grant, in an
amount not to exceed $850,000, to J.E.J. Properties, Inc. to underwrite costs associated with the
renovation and rehabilitation of the Dunn and Josephine Hotel, 1028 NW 3rd Avenue, Miami, Florida
(Folio No. 01-0101-040-1020),
Section 3. The Executive Director is authorized to disburse funds, at his discretion, on a
reimbursement basis or directly to vendors, upon presentation of invoices and satisfactory
documentation.
Section 4. The Executive Director is authorized to execute all documents necessary for
said purpose.
Section 5. The Executive Director is authorized to approve budget modifications under the
grant, provided that the overall amount of grant funding authorized by the Board of Commissioners is
not increased.
Section 6. Funds are to be allocated from SEOPW Tax Increment Fund, entitled "Other
Grants and Aids," Account Code No. 10050.920101.883000.0000.00000.
Section 7. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
JESSICA N. PACHECO, ESQ.
SPECIAL COUNSEL
City of Miami Page 2 of 2 File Id: 13-01215 (Version: 1 ) Printed On: 3/21/2014